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Green & Seifter, Certified Public Accountants takes new name
SYRACUSE — A Syracuse accounting firm has put the names of its managing partners on the books. Green & Seifter, Certified Public Accountants, PLLC changed its name in a move effective Sept. 28. The firm is now known as Grossman St. Amour Certified Public Accountants PLLC. The new name reflects the firm’s managing partners — […]
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SYRACUSE — A Syracuse accounting firm has put the names of its managing partners on the books.
Green & Seifter, Certified Public Accountants, PLLC changed its name in a move effective Sept. 28. The firm is now known as Grossman St. Amour Certified Public Accountants PLLC.
The new name reflects the firm’s managing partners — Gary Grossman and Steven St. Amour. They’ve owned it since 2000, leaving the firm without a named partner for over a decade.
The Green & Seifter name was a relic of the accounting firm’s founding by Edward Green in 1957, according to Grossman. He and St. Amour opted to keep Green’s namesake after they acquired the firm, he says.
“We retained the name for name-recognition purposes,” Grossman says.
For years, the accounting firm carried a similar moniker to a law practice Green founded in 1961, which was known until recently as Green & Seifter, Attorneys, PLLC. The two firms still have a close relationship, sharing some space at One Lincoln Center at 110 W. Fayette St. in downtown Syracuse, where they are both headquartered.
The law practice and accounting firm don’t share ownership — they haven’t for over a decade. Nonetheless, a shift at the top of the law practice still sparked a new name for the accounting firm, Grossman says.
In February, the law firm changed its name to Bousquet Holstein PLLC. The move came a few weeks after its only remaining named principal, Lowell Seifter, departed to take a general- counsel position at St. Joseph’s Hospital Health Center in Syracuse.
“When Lowell left the law firm in February of this year, we then had Bousquet Holstein and Green & Seifter Certified Public Accountants,” Grossman says. “So to avoid the confusion that caused, we intended to change our name as well.”
The accounting firm decided not to change its name immediately because it was in the middle of the busy tax season, Grossman adds. Instead, it made plans to take on the names of its own managing partners later in the year.
Since they acquired the accounting firm in 2000, Grossman and St. Amour have added seven more partners. Grossman St. Amour CPAs now employs about 35 accountants and a total of 40 people. The firm also shares some support staff with Bousquet Holstein.
Grossman declined to share revenue totals for the firm, but he predicts revenue will grow by about 5 percent in its 2013 fiscal year, which started in July. That would be similar to the pace of revenue growth in 2012, he says.
The accounting firm leases about 15,000 square feet of space on several floors of One Lincoln Center. It occupies space on the building’s seventh floor and also shares some space on its eighth and ninth floors, according to Grossman. It still shares that space with Bousquet Holstein.
“Even though we’re owned separately, we share some space,” Grossman says. “We’ve kept on that arrangement [since Ed Green sold the firms]. We don’t share systems and we don’t share accounting systems.”
Grossman St. Amour’s specialties include accounting, auditing, bookkeeping, taxation, financial planning, business valuation, and fraud examination and deterrence. Clients won’t notice any differences except the new name, Grossman says.
“Nothing else in the firm has changed,” he says. “We continue to focus on providing our clients with the highest-quality services, and we continue to anticipate issues.”
Contact Seltzer at rseltzer@cnybj.com
Say Yes to Education: Reap the ROI
Anytime area companies announce plans for a $20 million investment, it’s big news.In January 2011, SRC, Inc. announced a $5 million commitment to the “Say Yes to Education” program designed for the Syracuse City School District (SCSD). Today, area companies have invested or pledged nearly $7 million toward the $20 million goal. To find out why
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Anytime area companies announce plans for a $20 million investment, it’s big news.
In January 2011, SRC, Inc. announced a $5 million commitment to the “Say Yes to Education” program designed for the Syracuse City School District (SCSD). Today, area companies have invested or pledged nearly $7 million toward the $20 million goal.
To find out why corporations, renowned for being tight-fisted about their investments unless they see a return, are eager to support Say Yes, I invited five area executives, whose companies had all committed at least six figures, to join me in a discussion. Paul Tremont (SRC), Allen Naples (M&T Bank), Jim Fox and Terry Madden (O’Brien & Gere), and Troy Scully (Lockheed Martin) were eager to share their thoughts.
Tremont led the discussion by citing the company’s long-standing “… commitment to philanthropy with a focus on the Syracuse community.” Naples, who is also an SRC board member, focused on the “… need to build and strengthen the community.” Scully, Fox, and Tremont all noted that their companies already had commitments to various, local educational programs, but Say Yes was a strategic program that provided K-12 academic, social, emotional, health, and wellness support to help students climb the ladder of opportunity.
Fox pointed out the importance of branding for his company, something echoed by all the interviewees. O’Brien & Gere is concerned about “… client and employee satisfaction, in addition to shareholder approval … Clients are very concerned these days whether they are working with vendors that are socially responsible and have a sustainable corporate model … We are also concerned about retaining and attracting employees who want to be proud of the company they work for. This is reflected by the large number of our employees who volunteer their own time to tutor and mentor area [high school and junior high school] students.”
In addition to a focus on philanthropy and branding, the executives all cited self-interest. SRC, O’Brien & Gere, and Lockheed built on their engineering prowess to be competitive. All have a commitment to finding and developing employees who are strong in science, technology, engineering, and math (STEM). “It’s the pipeline for our future engineers, scientists, and also our manufacturing workers,” says Fox. Scully says its “STEM focus is a national program for Lockheed Martin to place engineers in the classroom,” not only to develop student education “… but also teacher training.” Tremont added that the Say Yes program helps to guarantee our “… potential employee pool.” Fox added another dimension: “With the baby-boom generation retiring, competition for talent is heating up.”
“You don’t have to be an engineering firm to be concerned,” noted Naples. “We need a well-educated community to ensure that our corporations are competitive and that we have [prosperous] customers. Every company needs to be concerned.”
What measures do you use to track the success of your investment? I inquired.
“Decreased drop-out rate, better scores in math and science, and [enhanced] college entrance,” Tremont responded. “Reduced truancy, higher graduation rates [from high school], and former students remaining in Syracuse,” Naples added. In addition to the above, Fox plans to track over the next three to five years how well Say Yes “… prepares the kids for college” and how many corporations “expand their internship, shadowing, mentoring, and tutoring programs to expose more students to opportunities for local employment.” All agreed that it’s vital for business to work with the educational establishment to ensure that graduates are educated for the jobs available.
The participants in the discussion are committed to the need to “grow” our own future workers, including those living in the inner-city. This is the only way to ensure a competitive work force and a sustainable business model. Although philanthropy and corporate branding are important motivators to invest in the program, the discussion clearly focused on self-interest as a critical rationale for supporting Say Yes.
Education has long been the traditional path to opportunity in our society. SRC, M&T, O’Brien & Gere, and Lockheed hope their example will encourage others to invest dollars in the Say Yes educational-scholarship fund; provide internship, mentoring, and tutoring options; encourage their employees to volunteer in the program; and participate in local Say Yes marketing efforts.
Today, when corporations are eager to find a long-term, safe investment with a solid return, Tremont, Naples, Scully, Fox, and Madden have the answer. Just Say Yes.
Norman Poltenson is publisher of The Central New York Business Journal. Contact him at npoltenson@cnybj.com
United Healthcare survey finds that few consumers comparison-shop health-care prices
Most consumers don’t use online resources to compare health-care prices, according to a survey that UnitedHealthcare recently released. Just 14 percent of adults ages 18 and older turn to services on the Internet to look at prices for health-care treatments, procedures, and services, according to the survey. That’s lower than the 50 percent of consumers
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Most consumers don’t use online resources to compare health-care prices, according to a survey that UnitedHealthcare recently released.
Just 14 percent of adults ages 18 and older turn to services on the Internet to look at prices for health-care treatments, procedures, and services, according to the survey. That’s lower than the 50 percent of consumers using online services to comparison-shop for airline tickets or the 49 percent that use them to shop for electronics, computers, and cameras.
It’s also below the portion checking prices on the Internet before making car purchases — 35 percent. Additionally, a greater chunk of consumers checked vacation packages online, 29 percent, and food, household, and consumer goods online, also 29 percent.
But Bill Golden, CEO of UnitedHealthcare Employer & Individual of New York, expects comparison shopping for health-care prices to grow among consumers.
“I anticipate that number will go up and will continue to go up as members and consumers take a bigger part in their health-care selections and as cost-sharing becomes a little more relevant to many members,” he says. “The more they have skin in the game, the more they’ll be interested in comparison shopping.”
Cost awareness isn’t only growing among members of high-deductible health plans or health plans with rising deductibles, according to Golden. Consumers are also taking more time to think about how their own health-care spending affects their premiums, he says.
“There are a lot of members that are starting to understand that their lifestyle and costs are starting to take effect on what’s taken out of their paycheck every month,” he says. “I think most employers are being very transparent about how they set their employee contributions.”
Some results in the UnitedHealthcare survey indicated room for growth in comparison-shopping for health-care prices. About 40 percent of survey respondents had spent some time online researching health-care providers like doctors, clinics, and hospitals before being treated for a major health-care event. And until recently, few tools were available for easy online comparison shopping, Golden says.
Still, only one in four of those who compared providers online before major health-care events spent more than three hours on their research. And, the survey found that 60 percent of respondents do not use the Internet for examining health-care costs.
“I don’t think the tools have ever been terrific to do that kind of cost shopping,” Golden says. “That’s an issue. People aren’t going to spend time doing this if they can’t get good information.”
New tools are popping up online, including UnitedHealthcare’s myHealthcare Cost Estimator, giving plan members more tools to predict their out-of-pocket costs and the overall cost of using a provider or hospital, Golden says. UnitedHealthcare’s tool has a national database of more than 574,900 providers and 4,275 hospitals for quality and cost comparisons.
“As the data gets better, you will see more interactions around comparison shopping,” Golden says. “You can get this data on your mobile phone. It’s delivering the information when people really need it.”
Golden cited one more force behind growth in health-care cost comparisons.
“If you step away from health care and you think about people’s success in working with an Amazon or any other type of website with a rating function, they’re becoming used to it,” he says. “It’s becoming a course of action to really see what’s on the open market — the price and quality.”
UnitedHealthcare is a division of Minnetonka, Minn.–based UnitedHealth Group, Inc. (NYSE: UNH). It is Central New York’s third-largest insurer, according to the 2012 Book of Lists. It had 200,000 members in Central New York in 2010, the most recent year for which data was available.
The company generated almost $55 billion in total revenue in the first half of this year and nearly $102 billion in revenue in 2011.
UnitedHealthcare issued its comparison-shopping survey Sept. 18. Princeton, N.J.–based Opinion Research Corp. conducted the survey, which recorded responses from 1,032 adults.
Contact Seltzer at rseltzer@cnybj.com
St. Joseph’s to build larger Westside Family Health Center
SYRACUSE — St. Joseph’s Hospital Health Center is almost ready to start construction on a new, larger Westside Family Health Center that will offer more services for patients. The new health center is slated for space next to its current location at 216 Seymour St. in Syracuse. It will be 16,000 square feet, up from
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SYRACUSE — St. Joseph’s Hospital Health Center is almost ready to start construction on a new, larger Westside Family Health Center that will offer more services for patients.
The new health center is slated for space next to its current location at 216 Seymour St. in Syracuse. It will be 16,000 square feet, up from 4,000 square feet in the current center.
Plans call for including family medicine and mental health-care services in the new center, as well as boosting its pediatrics and obstetrics capabilities. Work should start this month and wrap up in about a year.
“The intent of this project is to consolidate not only the physical aspect of care, but also the mental-health aspect to the new site,” says Marylin Galimi, director of engineering and construction at St. Joseph’s. “We’re trying to keep it in the same area, so we’re providing the services for the same neighborhood. We’re not relocating it to another part of the city.”
St. Joseph’s originally intended to consolidate clinical services from the Westside Family Health Center in its mental-health services building at 742 James St. The state awarded it a $6.6 million HEAL NY grant for that purpose in 2008. But the hospital changed its plans, working with the state to modify the grant in order to build a new center with more services on Syracuse’s Westside.
“It’s [about] getting closer to the people that are using it, but also being able to address all of the issues in one location, helping them get care where they’re located in one place,” Galimi says.
The expanded center will have 12 health-care providers, including family-medicine physicians, nurse practitioners and physician assistants, an obstetrician, a pediatrician, and a counselor. That’s up from three at the current facility, which has two family-medicine physicians and a physician assistant.
Many of the additions will be obstetrics workers from the St. Joseph’s maternal child-health center, which is set to close and send its workers to the hospital’s family medicine centers when the Westside Family Health Center opens. St. Joseph’s will also perform some hiring at the center on the Westside, although it does not yet have a target number of employees it will add.
St. Joseph’s does not have exact estimates for the number of patients the Westside Family Health Center will see in its new building. It received just over 8,000 patient visits in 2011, a number that will likely rise due to the center’s services expanding.
Costs
The new center comes with a total price tag of $4.8 million, set to be financed with the state’s HEAL NY grant. The remainder of the $6.6 million in grant money will go to renovate the St. Joseph’s Family Medicine Center at 101 Union Ave. and its mental-health services building at 742 James St.
Schopfer Architects LLP of Syracuse drew up plans for the new Westside Family Health Center, which will be one story but feature a design that gives St. Joseph’s the option of adding a second floor at a later date. Hayner Hoyt Corp., also of Syracuse, will be the construction manager.
The $4.8 million price tag includes construction, design, equipment, and the cost of purchasing five separate parcels of land for the building. St. Joseph’s set aside about $290,000 to purchase the land next to its current Westside Family Health Center.
The hospital struck deals to acquire the land from two different owners, according to Steve Infanti, Sr., who works as a consultant with St. Joseph’s on its real-estate transactions. They are Samuel DiMaria, owner of DiMaria’s News at 325 Gifford St., and Paul Nojaim of Nojaim Bros. supermarket, which is adjacent to both the current Westside Family Health Center and the future center’s site.
The land set for the new health center currently consists of three buildings that will be demolished, including DiMaria’s News, which will close or relocate, Infanti says.
“Samuel DiMaria is the owner of DiMaria’s,” Infanti says. “He was very much in favor of this project for the benefit of the neighborhood.”
Nojaim Bros. is preparing to undergo its own set of renovations. It plans to add 6,400 square feet of warehouse space to its current 21,200-square-foot building, according to documents filed with Syracuse’s planning commission. The supermarket will also completely remodel its interior, the documents show.
Empire State Development awarded $1 million in aid to the supermarket project as part of the state’s 2011 regional economic development initiative. The project involves St. Joseph’s — Nojaim Bros. plans to offer healthy foods in partnership with the Westside Family Health Center.
“This is a phenomenal opportunity from a public health point of view to bring together food and access to good nutrition at the retail level,” says Thomas Dennison, director of Syracuse University’s Lerner Center for Public Health Promotion and associate director of the Central New York Master of Public Health joint program between Syracuse University and the State University of New York Upstate Medical University.
The Lerner Center is working on the healthy-food project at Nojaim Bros., according to Dennison. For instance, graduate students are crafting messages to promote good health and good eating. And the center plans to help build a system that will electronically link Westside residents’ food choices to the medical system.
“It’s all by voluntary participation,” Dennison says. “They would essentially have a rewards club, and the food they buy would be ranked and scored.
“There will be an in-store promotion to help people think about making better choices,” he says. “The next wave of that is to translate that information into clinically meaningful information for the providers at the health center. The information about what you buy in your grocery cart goes over to your office so the physician can see you and say, ‘You have diabetes and hypertension. You shouldn’t be eating that.’ ”
Contact Seltzer at rseltzer@cnybj.com
ClearPath launches molecular assay for Group B Strep
SYRACUSE — ClearPath Diagnostics has launched a new women’s health molecular assay for the detection of Group B Streptococcus (GBS) from Meridian Bioscience, Inc. The new assay, named illumigene GBS, is the next generation of technology for GBS testing, ClearPath says. Sensitivity on the new assay approaches 99 percent versus a range of 65 percent
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SYRACUSE — ClearPath Diagnostics has launched a new women’s health molecular assay for the detection of Group B Streptococcus (GBS) from Meridian Bioscience, Inc. The new assay, named illumigene GBS, is the next generation of technology for GBS testing, ClearPath says. Sensitivity on the new assay approaches 99 percent versus a range of 65 percent with the culture method currently used in most U.S. labs.
With more than 4.3 million births in the U.S., GBS is the leading cause of morbidity and mortality in infants, with the most common complication being early-onset neonatal sepsis. Infant mortality is preventable with appropriate diagnostic testing, according to ClearPath Diagnostics.
“The illumigene test will ultimately help us prevent infant mortality for patients who might otherwise not be accurately diagnosed,” Michael A. Jozefczyk, M.D., president of ClearPath Diagnostics, said in a news release.
GBS testing is recommended by the Centers for Disease Control (CDC) for use in all pregnant women in their third trimester.
St. Joseph’s to use grant to acquire ER equipment
SYRACUSE — St. Joseph’s Hospital Health Center has received a grant that will help it buy equipment for a “fast track” area in its emergency department. The grant, for $10,100, comes from the health insurer Fidelis Care New York. St. Joseph’s plans to use it to purchase a stretcher chair for examining patients with eye
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SYRACUSE — St. Joseph’s Hospital Health Center has received a grant that will help it buy equipment for a “fast track” area in its emergency department.
The grant, for $10,100, comes from the health insurer Fidelis Care New York. St. Joseph’s plans to use it to purchase a stretcher chair for examining patients with eye and nasal complaints, two examination tables, reusable blood-pressure cuffs, and three handheld oximeters, which are used for measuring oxygen saturation levels and pulse rates.
The equipment is bound for the hospital’s 12-bed emergency department fast track unit. That unit operates similarly to an urgent-care center, serving patients with an array of less-serious conditions.
“We are so grateful for the ongoing support of Fidelis Care New York,” St. Joseph’s Hospital Foundation Vice President Margaret Martin said in a news release. “The funding it provides helps us build on our rich tradition of service to those most in need in our community.”
Nonprofit St. Joseph’s has 431 beds and serves patients from Onondaga County and 15 surrounding counties. Fidelis Care New York is a Catholic health plan based in Rego Park in New York City’s borough of Queens. It has a regional office at 5010 Campuswood Drive in DeWitt.
Aon Study: Health-care premium increases slowed in 2012
This year, U.S. companies and their employees saw the lowest health-care premium rate increases in six years, according to an analysis by Aon Hewitt, the global human-resources consulting business of Aon plc (NYSE: AON). The average health-care insurance-premium rate increase for large employers in 2012 was 4.9 percent, down from 8.5 percent in 2011 and
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This year, U.S. companies and their employees saw the lowest health-care premium rate increases in six years, according to an analysis by Aon Hewitt, the global human-resources consulting business of Aon plc (NYSE: AON).
The average health-care insurance-premium rate increase for large employers in 2012 was 4.9 percent, down from 8.5 percent in 2011 and 6.2 percent in 2010, according to Aon Hewitt. However, average health-care premium increases are projected to jump up to 6.3 percent in 2013.
Aon Hewitt’s analysis showed the average health-care cost per employee was $10,522 in 2012, up from $10,034 in 2011. The portion of the total health-care premium that employees were asked to contribute toward this premium cost was $2,204 in 2012, up from $2,090 in 2011. Meanwhile, average employee out-of-pocket costs — such as copayments, coinsurance, and deductibles — totaled $2,200 in 2012, up from $2,072 in 2011, Aon Hewitt said.
For 2013, average health-care costs per employee are projected to rise to $11,188. Consistent with the previous two years, employees will be asked to contribute 21 percent of the total health-care premium, which equates to $2,385 for 2013, according to Aon Hewitt. Average employee out-of-pocket costs are expected to increase to $2,429.
SBH opens outpatient clinic in Learbury Centre
SYRACUSE — Syracuse Behavioral Healthcare’s (SBH) new outpatient mental health and substance-use disorders clinic is now up and running at the Learbury Centre. The clinic has been open at 401 N. Salina St. since Sept. 20, according to Jeremy Klemanski, SBH president and CEO. The nonprofit organization hosted a grand opening there two weeks later
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SYRACUSE — Syracuse Behavioral Healthcare’s (SBH) new outpatient mental health and substance-use disorders clinic is now up and running at the Learbury Centre.
The clinic has been open at 401 N. Salina St. since Sept. 20, according to Jeremy Klemanski, SBH president and CEO. The nonprofit organization hosted a grand opening there two weeks later on Oct. 4.
“Reactions have been very positive,” Klemanski says. “Folks love the privacy that the private offices afford. They love the extra group rooms — things can be scheduled more for the convenience of folks that are coming here as opposed to when there’s a room available.”
The clinic’s opening comes after SBH purchased the 55,000-square-foot Learbury Centre from Pietrafesa LLC in March. It paid $2.83 million to acquire the building in a deal brokered by Martin McDermott of Syracuse–based JF Real Estate, then started $1.2 million in renovations to outfit 17,000 square feet of the facility to host outpatients.
Syracuse–based Hueber-Breuer Construction Co., Inc. performed the work, and Associated Architects of Syracuse designed the renovations. Crews built medical suites, an observation room, counselor-client work space, and a children’s resource room to host children whose parents visit for treatment.
“Parents are thrilled with the child resource space,” Klemanski says. “It really gives us a quality environment for children to be safe while their parents are receiving services.”
SBH funded the purchase of the building and its clinic renovations using its own cash and financing from Alliance Bank, N.A. SBH footed 20 percent of the total $4 million in costs with its cash and relied on Alliance Bank’s financing for the rest of its funding.
The organization hired 10 new staff members to fill positions for the expanded outpatient mental-health clinic. That brings the total number of employees at the clinic to 50. SBH employs a total of more than 220 people.
SBH projects $12.82 million in revenue for 2012. That’s an increase from budgeted revenue of $12.21 million in 2011.
The outpatient clinic isn’t the only SBH operation slated to move to the Learbury Centre. The nonprofit organization will
relocate several of its offices that currently take up 10,500 square feet in the Regency Tower at 770 James St. to the Salina Street facility. The offices will fill 16,000 square feet of space that Empower Federal Credit Union expects to leave next year, according to Klemanski.
“We plan to move into that space,” he says. “Our residential counseling staff will be on the first floor, and our administrative staff will be on the second floor.”
SBH intends to continue leasing out the Learbury Centre’s third and fourth floors.
The nonprofit has some other relocations in store as well. When it moved its outpatient clinic to the Learbury Centre, those operations vacated 10,500 square feet of a 27,400-square-foot building that SBH owns at 847 James St. SBH is now remodeling that building to hold a 25-bed inpatient detoxification center. The James Street facility already holds the 40-bed Willows Inpatient Rehabilitation center and will continue to do so.
Remodeling the building will cost $228,300. Hueber-Breuer is handling that work, which should wrap up in time for the detoxification center to move in around Thanksgiving, Klemanski says. SBH plans to pay for those renovations with its own cash.
They will give SBH a central location for its inpatient services, Klemanski says.
“Having an integrated, fully co-located inpatient detox and rehab is a really rare thing,” he says. “Most communities do not have these kinds of resources, so this is really special.”
The detoxification center will move from 714 Hickory St., where it currently has 18 beds. Once it is gone from that location, SBH intends to spend $187,500 of its own cash to turn the emptied space into four supportive-living apartments. Those apartments will give the organization a block of 13 units between 714 and 720 Hickory St. and are scheduled to be complete by Jan. 1, 2013.
In addition to its operations in Syracuse, SBH also provides services in Rochester. It saw more than 5,700 people in the last year.
Contact Seltzer at rseltzer@cnybj.com
Kaiser Survey: Health premiums grew by less than 5 percent in 2012
Employer-sponsored health-insurance premiums grew more slowly in 2012 than in previous years, but still rose faster than inflation. That’s according to a recent survey from the Kaiser Family Foundation and Health Research and Educational Trust. The national survey found that annual family health-insurance premiums increased 4 percent to $15,745. Premiums for single coverage edged up
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Employer-sponsored health-insurance premiums grew more slowly in 2012 than in previous years, but still rose faster than inflation. That’s according to a recent survey from the Kaiser Family Foundation and Health Research and Educational Trust.
The national survey found that annual family health-insurance premiums increased 4 percent to $15,745. Premiums for single coverage edged up 3 percent to $5,615.
The cost of both types of medical coverage increased more slowly than in 2011. Family premiums grew more than 9 percent to $15,073 last year, while individual premiums rose nearly 8 percent in 2011 to $5,429.
“On the slowdown, of course everyone’s trying to figure this out,” Kaiser President and CEO Drew Altman said during a conference call to discuss the 2012 survey’s findings. The slow economy likely contributed to the decrease in premiums’ rate of growth, he said. Or, insurers may not have needed to raise premiums as quickly after last year, he added.
“It’s also possible that 9 percent last year has some effect on what we’re seeing this year,” he said.
Although health-coverage premiums eased their rate of increase in 2012, they still outpaced inflation and wage growth. Inflation was 2.3 percent, while wages grew at 1.7 percent, according to Kaiser.
The one-year slowdown also did little to dent a decade’s worth of inflation in health-insurance costs, the survey’s numbers show. Since 2002, average premiums for family health coverage ballooned 97 percent. Worker contributions jumped 102 percent during that time.
“Workers’ contributions to premiums are up 180 percent since we started this survey in 1999, and their wages are up 47 percent,” Altman said. “That’s why what looks like recent moderation to experts doesn’t always feel that way to working people.”
The average annual health-insurance premium contribution for a worker with family coverage in 2012 was $4,316, up from $4,129 in 2011. It was $951 for single coverage, up from $921 the previous year.
Preferred-provider organizations, or PPOs, were the most common type of plan in 2012, covering 56 percent of workers with employer-sponsored coverage. High-deductible health plans (HDHP) with savings options covered 19 percent, and health-maintenance organizations covered 16 percent. Another 9 percent of workers were in point-of-service plans.
Enrollment growth in HDHPs tapered off in 2012, according to the survey. The 19 percent enrolled in the plans this year was just 2 percentage points higher than the 17 percent reported in last year’s survey, which is not statistically significant, the survey found. Previous years saw more growth in HDHPs — enrollment in the plans grew 4 percentage points between 2010 and 2011 and 5 percentage points between 2009 and 2010.
“We’re seeing a plateauing this year in growth in high-deductible plans and cost-sharing,” Altman said. “The question is, is this just a temporary timeout, and we’ll see the recent trend toward more people in high-deductible plans resume in future surveys?”
Availability of employer-sponsored health coverage was also virtually unchanged from 2011, the survey found. In 2012, 61 percent of employers offered health-insurance benefits, up 1 point from the previous year.
Larger firms were more likely to offer health-care benefits, the survey said. Just half of firms with three to nine workers offered benefits, compared to 98 percent of firms with 200 or more employees. Among all firms with three to 199 workers, 61 percent offered health benefits.
Employers also reported on their expected change in health-insurance premiums for 2013. They cited an average increase of 7 percent.
However, Kaiser noted that early reports of premium increases are not always accurate because firms raise deductibles, change benefits, or move to new coverage. This year, 54 percent of employers offering health benefits reported shopping for new coverage. Among those firms, 18 percent switched insurance carriers and 27 percent changed their plan type.
The Kaiser Family Foundation/Health Research and Educational Trust 2012 Employer Health Benefits Survey, issued Sept. 11, is in its 14th year. It included 3,326 randomly selected non-federal public and private firms with three or more employees surveyed between January and May 2012. Firms predicted their insurance-premium increases for next year in August.
Kaiser is a not-for-profit organization based in Menlo Park, Calif. The Health Research and Educational Trust is a nonprofit with offices in Chicago and Washington, D.C.
Contact Seltzer at rseltzer@cnybj.com
Securities industry profits to rise, employment to decline
Profits in the securities industry should grow this year, although employment and the cash bonus pool in New York City will drop, according to a
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